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Deal of the Year Winners Announced at International Hotel Investment Forum in Berlin

Search ASIA Travel Tips .com 15 March 2005

Winners of the Deal of the Year Awards were announced today at the International Hotel Investment Forum (IHIF).

The IHIF is being held 15-17 March 2005 at the InterContinental Berlin, Germany. Award winners were chosen by committees selected from the IHIF sponsors and given in three categories: Single Asset, Portfolio and Best New Development. About this years winners, IHIF co-host Scott Pierce of Advanstar Communications said, The award winners are as deserving as they are unique.

The sale of the Savoy Group by Blackstone to Quinlan Private was selected as the Portfolio Deal of the Year. Included in the 750 million transaction were The Savoy, Claridges, The Berkley and The Connaught hotels, comprising 772 rooms. Finalists in this category included the Acquisition of the economy hotel chain Premier Lodge by Whitbread and the acquisition of Hotel du vin to MWBs hotel operation Malmaison.

The Acquisition of the Hilton Prague by Irelands Quinn Group was chosen the Single Asset Transaction Deal of the Year. The 788-room hotel was sold by Highbridge and Deutsche Banks Real Estate Global Opportunities Fund 1A for 130 million. The deal also included the 226-room Ibis Karlin Hotel. Total value of the transaction was valued at 145 million. The Hilton Prague is one of the Czech Republics largest hotels in terms of revenues and number of beds. Finalists in this category included the acquisition of Le Richemond, Geneva by RF Hotels and the acquisition of Thistle Hotel Group by Travelodge Hotels Ltd, Thame, London.

The Four Seasons Gresham Palace in Budapest, Hungary won the award for Best New Development. The 179-room hotel was developed by Quinlan Private at a cost of US$110 million. Housed in one of the worlds finest Art Nouveau era structures, the hotel is one of central Europes greatest. Finalists in this category included The Soho Hotel, London and the Dakota, Sherwood Forest.

The IHIF is one of Europes largest and most important conferences for hotel investment professionals. Last years record attendance exceeded the 1,000 mark and is expected to be even stronger this year.

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